Make sure you think it's going to move a fair amount. Opt premiums are quite high.
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QQQ OTM Call option trade - August 15-19
- Thread starter ForexForex
- Start date
Quote from Jonnybarbs:
Make sure you think it's going to move a fair amount. Opt premiums are quite high.
I entered an identical trade two weeks ago at $62.44, opened on a Wednesday and closed it out for small 15% gain the next day just one day before expiry.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3257144#post3257144
PS .... there is a typo in the trade from two weeks ago. July should read Aug, it's corrected in the next post.
Quote from ForexForex:
08-17-11 04:01 PM
QQQ Trade #4. I just opened the following trade a few minutes before market closed.
QQQ 53P / 54C strangle - Live trade in progress.
- QQQ @ $53.58
- Buy QQQ Aug 2011 53.00 Put @ $0.2514 http://finance.yahoo.com/q?s=QQQ110820P00053000
- Buy QQQ Aug 2011 54.00 Call @ $0.2602 http://finance.yahoo.com/q?s=QQQ110820C00054000
- Total debt $51.16 commissions included.
- Last day of trading August 19, 2011.
- Will update when I close position.
UPDATE - POSITION CLOSED
- Sold the QQQ Aug 2011 53.00 Put @ $1.39 http://finance.yahoo.com/q?s=QQQ110820P00053000
- Sold the QQQ Aug 2011 54.00 Call @ $0.03 http://finance.yahoo.com/q?s=QQQ110820C00054000
- P/L $88.50 / + 173% commissions included.
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I put the ELITE in EliteTrader
Nice, job